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ADITYA MAHATO

Category : Deductio..,
Solved
August 16, 2019 4:39 pm
  • Deductions
sir
Thank you for your valuable reply.
But sorry to disturb you again on the same matter which I have asked last time i.e. 80TTA. I have already shown Rs 150000 in 80 C (PPF) having shown that amount am I eligible to show saving interest Rs. 10000 in 80TTA and any other amount in any other column lik...
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Amlan Dutta
This questions shows severe lack of understanding of basics ...as a individual you are eligible to all deductions under section 80 C .....i.e 80 C , 80 D , 80 E ...there is nothing which prevents individual from taking benefit of different sections provided he qualifies for eligible investment liste...
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  • August 29, 2019
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Aakash

Category : Income f.., Capital ..,
Solved
August 13, 2019 8:11 pm
  • Income from let out property
  • Capital Gains exemption
Sir,My mother purchased a new home last year and for a half year I was paying rent to her under old home and I started paying rent on the new property. She has income from 2 house property.I have 2 questions- Should she file ITR1 or ITR2? As she has income from 2 house property.- She sold her old ho...
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Amlan Dutta
She will file ITR 2 and show income from both house property ...whatever capital gains she got from old house, to that extent if she has invested in new house she can claim exemption u/s 54, but capital gains and it's subsequent exemption in return has to be shown in tax return !
  • August 14, 2019
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Aakash
If she shows rent from one property only and another one is self-occupied even than she needs to file ITR2?
  • August 14, 2019
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ADITYA MAHATO

Category : 80TTA - ..,
Solved
August 12, 2019 4:03 pm
  • 80TTA - Income from interest on saving banks Accounts
sir,
Hope you are well.This is the time when people knock your door to beg alms of your great-wealth i.e. knowledge.
This year I got savings interest Rs 21661 and i have shown it with fixed deposit interest approx Rs 8000 in the row of income from other sources.
How much can I claim in 80 TTA row out ...
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Amlan Dutta
If you observe carefully, the other sources field this time has interest fields from savings and fixed deposit clearly separated ...so you will show FD interest 8000 under income from fixed deposit and interest from savings 21661 under interest from savings .....Now under 80 TTA , you can then claim...
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  • August 12, 2019
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Sandeep Roy

Category : Tax Comp.., STCG on ..,
Solved
August 12, 2019 2:29 pm
  • Tax Computation
  • STCG on Stocks
Hi Amlan,

I am an NRI and I would like to know about my tax liability from short-term capital gains from sale of equity shares. I have a short-term capital gain of Rs. 60000. My broker deducted Rs. 9000 as TDS (26AS). I have no other income. While calculating tax on ITR 2 form it shows I have to pay...
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Amlan Dutta
NRIs do not have the option to adjust their capital gains either long-term or short term against the basic exemption limit of Rs 2.5 lakh. It is better that you mention the capital gain breakup in the periods ...it doesn't effect tax liability
  • August 12, 2019
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